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Business

Buying enterprise professional services: Five considerations for business leaders in turbulent times

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By James Sandoval, Founder and CEO,  MeasureMatch 

The platformization of professional services provides businesses with direct, seamless access to the skills required to face any crisis or opportunity. 

The business world was ill-prepared for the current crisis, but a new breed of professional services marketplace platforms is providing valuable access to much-needed enterprise software and data specialists to curb the damage and rise to the challenge. 

In today’s age of distributed teams, remote working and material lifts in online communication and commerce, digital systems and data skills are highly important and a matter of success or failure for many organizations.

Enter the ‘platformization of professional services’. Over the last few decades – in a majority of sectors – consumers’ worlds have been reshaped by platformization and personalization. Companies which have offered traditional products and services have moved online or they have been replaced by nimbler online competitors. 

The most successful of these companies exhibit two qualities: They offer a platform for others to trade, communicate and to build upon, tailoring their services to the needs of individual consumers. Platformization and personalization.

The innovations born out of the platformization and personalization of B2C businesses are now beginning to transform the buying and selling of goods and services between businesses as well. 

This means that businesses increasingly have extraordinary human capital investment flexibility and can safely, cost effectively remain well-equipped to survive and thrive through the most turbulent of times.

Here, MeasureMatch Founder and CEO, James Sandoval, has summarised five core benefits of the platformization of professional services for organizations feeling the heat from shareholders, competitors and even disruptions from pandemics.

  1. Unparalleled Accountability

The best of today’s professional services marketplaces will win the confidence – and budgets – from clients because they not only provide access to highly desired skills and services, but they’ve also gone to extraordinary lengths to maximise success by conducting, amongst other things, identity, insurance, skills vendor partner verifications. And this is on top of star ratings, written reviews, flexible contract management and more.  

  1. Exceptional Speed

The combination of cloud computing services, plus deep ravines of data from historical customer engagement and completed contracts, means that professional services platforms can and should add exceptional value immediately on entry, and across every step of the experience – prior to spending a penny. 

  1. ‍Mind-blowing Service

Professional services platforms are built for people to use – people from different walks of life and with different business needs. The best platforms provide an equally exceptional layer of people. They differentiate with added human value in the form of due diligence, domain and process expertise. 

  1. Lower Costs

The OECD says unit labour costs “can be expressed as the ratio of total labour compensation per hour worked to output per hour worked (labour productivity).” Teams and individuals contracted via marketplace platforms, however, are armed and ready with requisite domain knowledge, experience and skills – which means there’s no requirement for the overhead costs commonly required for training, insurance, HR, office rent, utilities, which can amount to 25% to 100% on top of salaries. 

  1. Material Value

Taking into account the contributions made by an unlimited capacity for precise machine-driven matching, exceptional accountability and flexibility, measurable productivity lifts, topped with human customer service and an attractive cost basis, it’s no wonder professional services marketplaces are exploding in popularity. The opportunities for value creation are material and available now.

The future will come with more complexity, surprises and risk. The platformization of professional services, together with advancements in enterprise personalization, will help everyone to embrace it all with confidence, balance and success. 

Global Banking & Finance Review

 

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